VANCOUVER, July 5, 2013 /CNW/ - Today Pacific NorthWest LNG applied to the National Energy Board (NEB) for a license to export liquefied natural gas (LNG) from its proposed LNG export facility in Port Edward, British Columbia. Pacific NorthWest LNG has applied for a license to export up to 19.68 million tonnes of LNG per year for 25 years beginning in 2019. "Today's filing for an NEB export license is another important step to bring this tremendous opportunity to reality. We believe the successful completion of our project will create long-term, multi-generational benefits for First Nations, northwest BC, the province and the country as a whole," said Greg Kist, President of Pacific NorthWest LNG. "While we continue our work to reach a final investment decision in late 2014, we believe that our project has all of the key components of a successful, world-class LNG development." The proposed facility represents an investment of $9 billion to $11 billion, and will create up to 3,500 direct jobs during construction. Once operational, the LNG facility will create 200 to 300 permanent, full-time jobs. "Pacific NorthWest LNG's export application is more welcome news, which will help us achieve our goal to be a leader in clean energy supply and export," said Premier Christy Clark. "Our ability to reach new markets will enable British Columbia's natural gas to create new jobs, strengthen our economy, and lead to a debt-free future." Pacific NorthWest LNG will be supplied with natural gas sourced primarily from Progress Energy Canada's assets in northeast British Columbia. The export project is ultimately owned, through various subsidiaries, by PETRONAS with a 90 per cent interest in the project and JAPEX with the remaining 10 per cent interest. The project submitted its Project Description to the Canadian Environmental Assessment Agency (CEAA) in February, 2013. CEAA has issued Environmental Impact Statement guidelines that will act as terms of reference for the project's environmental assessment. Pacific NorthWest LNG intends to submit its Environmental Assessment to CEAA in late 2013. About Pacific NorthWest LNG Pacific NorthWest LNG is planning to build a world-class LNG export facility on Canada's west coast on Lelu Island in Port Edward, near Prince Rupert, British Columbia. The proposed facility will comprise an initial development of two LNG trains of approximately six million tonnes per annum (mtpa) each, and a subsequent development of a third train of approximately six mtpa. The proposed facility would liquefy and export natural gas produced by Progress Energy Canada in northeastern British Columbia. Pacific NorthWest LNG is committed to generating new economic and social benefits for the local community, First Nation's, British Columbia and Canada in an environmentally safe and sustainable manner. The export project is ultimately owned, through various subsidiaries, by PETRONAS with a 90 per cent interest in the project, and JAPEX (Japan Petroleum Exploration Co.) with the remaining 10 per cent. To schedule a media interview, please contact: Spencer Sproule Senior Advisor, Corporate Affairs 604.828.7680 For more information about Pacific NorthWest LNG, please visitwww.pacificnorthwestlng.com. SOURCE: Pacific NorthWest LNG Ltd. To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/July2013/05/c5725.html CO: Pacific NorthWest LNG Ltd. ST: British Columbia NI: OIL -0- Jul/05/2013 17:15 GMT
Pacific NorthWest LNG Applies for Export License
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